Issuer Free Writing Prospectus
Filed Pursuant To Rule 433
Registration Statement No. 333-119067
January 23, 2007
WEINGARTEN REALTY INVESTORS
DEPOSITARY SHARES
EACH REPRESENTING 1/100 OF A SHARE OF
6.50% SERIES F CUMULATIVE REDEEMABLE PREFERRED SHARES
Final Term Sheet
Issuer: Weingarten Realty Investors
Security: Depositary Shares Each Representing 1/100 of a Share of 6.50% Series F Cumulative Redeemable Preferred Shares
Size: 8,000,000 depositary shares
Overallotment Option: 0 depositary shares
Type of Security: SEC Registered—Registration Statement No. 333-119067
Public Offering Price: $25.00 per depositary share; $200,000,000 total
Underwriting Discounts and Commissions: $0.7875 per share for Retail Orders; $4,335,187.50 total; and $0.5000 per share for Institutional Orders; $1,247,500 total;
Proceeds to the Company, before expenses: $194,417,312.50 total;
Estimated Company Expenses: $150,000, other than underwriting discounts and commissions
Use of Proceeds: The Company intends to use the net proceeds from this offering to repay amounts outstanding under its credit facilities, which are among the primary sources of financing for its on-going acquisition and new development programs. Any additional net proceeds will be used for general business purposes. As of January 23, 2007, borrowings under the Company’s credit facilities bore interest at the rate of 5.7% per annum and $40.2 million principal amount was outstanding thereunder.
Sole Bookrunner: Wachovia Capital Markets, LLC
| Underwriter | Number of Firm Shares | |
| Wachovia Capital Markets, LLC |
2,400,000 | |
| Citigroup Global Markets Inc. |
2,400,000 | |
| Merrill Lynch, Pierce, Fenner & Smith |
||
| Incorporated |
2,400,000 | |
| RBC Dain Rauscher Inc. |
400,000 | |
| Stifel, Nicolaus & Company, Incorporated |
240,000 | |
| J.J.B. Hilliard, W.L. Lyons, Inc. |
160,000 | |
| Total |
8,000,000 | |
Dividend Rights: 6.50% of the liquidation preference per Series F Preferred Share per year (equivalent to $1.625 per year per Depositary Share); Distributions begin on March 15, 2007
Redemption: The shares may not be redeemed until on or after January 30, 2012
Trade Date: January 23, 2007
Settlement Date: January 30, 2007 (T+5)
Delivery Date: January 30, 2007 (T+5)
Selling Concession: $0.50/share for Retail Orders; $0.30/share for Institutional Orders
Reallowance to other dealers: $0.45/share
CUSIP Number: 948741889
ISIN Number: US9487418892
The issuer has filed a registration statement (including a prospectus with the SEC) for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the SEC for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at www.sec.gov. Alternatively, the issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling Wachovia Securities toll-free at 1-866-289-1262.
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